15 Mulwarree Avenue Randwick Archives

Comment: Covid-19 Impact on the Property Market

1. It is unclear at the moment the short term impact on the property market and the property market won't be immune to a drop. However, most property analysis predict the market will return to pre-Covid-19 conditions once concerns over the virus subside.

2. Sydney's median house prices jumped 1.1% to $1,020,849 but it's expected to slow over April.

3. Over the past year Sydney house prices have risen 14.5%

4. This is a once in a life time opportunity for young buyers/first home buyers with job security and a deposit, due to record low interest rates, less competition and cheap stock.

5. Off-the-plan apartment sales are expected to perform reasonably well due to the market sectors established use of virtual technology.

6. History tells us Residential Australian property is a high performing asset class during economic uncertainty, as people generally seek out bricks and mortar.

Using a Buyer's Agent: A Buyer's Agent can act as a 'middleman' at a time when house hunting has become more difficult. A Buyer's Agent can help by providing a shortlist of properties and arrange private viewings.

Auctions are continuing Online. If you are bidding Online, it is important you have a proven auction strategy and be well advised.

TBAS® Buyers Agents are continuing to inspect, bid at auction Online and purchase properties for their clients. For more details contact us.